Teachers strike in Paraguay to demand pension fund protections following bank's collapse

Thousands of public schoolteachers went on strike in Paraguay and took to the streets of several cities following the collapse of a major bank that resulted in the removal of the nation’s president last weekPublic schoolteachers went on strike in Paraguay Monday and took to the streets of several cities following the collapse of a major bank that resulted in the removal of the nation’s president last week.Silvio Piris, the president of the Federation of Paraguayan Educators, said that teachers in Paraguay are concerned over the fate of around 60 million dollars in pensions funds that had been deposited in Ueno, the bank that was intervened by Paraguay’s government last week.“We want the return of that money to be a priority,” Piris told Paraguay’s Channel 9.More than 3 million people were frozen out of their bank accounts last Tuesday after Paraguay’s government intervened in Ueno Bank. Its closure has also affected pension funds and government-owned accounts.The bank’s collapse led to the removal of Paraguayan President Santiago Peña, who was accused by legislators of using his political influence to steer hundreds of millions of dollars in public funds into Ueno while regulators ...